7 January 2015


"Buy Axis bank future above 502 Tgt 504.80/507.40 Sl 498.50 "
Volatility was witnessed in the market today. After a volatile day, the market ended with marginal losses. It was absolute lack of confidence among the bulls that led to sustained selling right since the gap down opening. There has not been any recovery after that yesterday's carnage. The Nifty was closed at 8102 level. It touched a high of 8151 and a low of 8065 in trade today, total 86 points was moved by nifty throughout the day.
For tomorrow if the Nifty manages to take out the level between 8130 and 8165 successfully then we can expect it move up further and probably test the strong supply zone that lies in the range between 8180 and 8205. On the other hand, so long as the Nifty does not fall below the support area between 8070 and 8040, the bulls can again stage a pullback rally. However, only when the index gets past 8250 decisively expect a strong rally and some real gumption in the pullback attempt again. More about intraday tips on Google +
RESISTANCE: 8160, 8210, 8260

SUPPORT:  8110, 8060, 8010

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